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Is Aave Companies’ latest acquisition an attempt to boost AAVE’s price action

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Aave Companies confirmed the acquisition of Sonar, a Web3 social gaming application AAVE’s price continued to decline and remained significantly unprofitable Aave Companies, the developers of DeFi protocol Aave and decentralized social network Lens Protocol, announced the acquisition of web3 social gaming application Sonar on 5 December. Following the acquisition, Sonar would be integrated with […]

traded at $63.97 at press time. Due to the impact of FTX’s sudden collapse, the token’s price declined by 30% in November., last month witnessed the count of unique addresses that traded fall by 83%. Likewise, the count of new addresses that joined the network daily declined by 63%.However, within that same period, AAVE recorded a drought of whale transactions. Data from Santiment revealed that in the last 30 days, only nine whale transactions exceeded $100,000.

Moreover, whale transactions of over $1 million were almost non-existent within the period under review – only one transaction was completed in the last 30 days.Furthermore, holding AAVE has been significantly unprofitable for its investors in the last month. In fact, this has been the situation since the beginning of the year. As of this writing, AAVE’s Market Value to Realized Value posted a negative value of -77.57%.

 

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